RIC, Richmont Mines update

As early as August 2011 we recommended not to “back up the truck” with this stock which, of course, is a polite way of saying sell. Clearly the call was wrong as the stock proceeded to climb another 30 % but this is what risk/reward is all about. Timing the market is impossible they say. That is complete nonsense. Timing the market perfectly is impossible but timing the market using common sense is not. See previous blog.

PS at $1 this may be a buy but that judgement should be based on fundamentals, not EW.